Hi, thank you for your question. Just a bit more information required to fully assist you:-How old are you both?-How long have you been married?-Do you have any children together, if so their ages and proposed arrangements?-What assets and pensions do you both have (both sole and joint), together with values?-What are your respective incomes?
What is the value of thr home and outstanding mortgage? Who will the child live with and what will the arrangements be?
Current value and outstanding mortgage please
How much mortgage is outstanding?
Thanks for confirming. Given the long marriage and 1 child arising out of the marriage, you will both have strong grounds to apply for financial relief from each other. However, given that you are the breadwinner and asset holder, she would be the one that would be able to do this.
Arising out of the marriage she would be entitled to seek financial relief to meet her and the child's reasonable needs - this will be in relation to assets (the home) and in relation to spousal maintenance given that she earns no income. She would also be entitled to seek child maintenance from you which will be based on your gross income and how often on average your child stays overnight with you.
Her right to seek financial relief cannot be prevented and if she sought this all assets from both of you, as well as income, must be disclosed.
The Court's starting point is a 50-50 split of all matrimonial assets and ensuring that both your needs are met in relation to both assets and income. For your information the criteria considered by the court in these matters is:1. The income, earning capacity, property and other financial resources which each of the parties to the marriage has or is likely to have in the foreseeable future, including in the case of earning capacity any increase in that capacity which it would in the opinion of the court be reasonable to expect a party to the marriage to take steps to acquire;2. The financial needs, obligations and responsibilities which each of the parties to the marriage has or is likely to have in the foreseeable future;3. The standard of living enjoyed by the family before the breakdown of the marriage;4. The age of each party to the marriage and the duration of the marriage;5. Any physical or mental disability of either of the parties to the marriage;6. The contributions which each of the parties has made or is likely in the foreseeable future to make to the welfare of the family, including any contribution by looking after the home or caring for the family;7. The conduct of each of the parties, if that conduct is such that it would in the opinion of the court be inequitable to disregard it;8. In the case of proceedings for divorce or nullity of marriage, the value to each of the parties to the marriage of any benefit which, by reason of the dissolution or annulment of the marriage, that party will lose the chance of acquiring.If you have any further questions regarding this please let me know. In the meantime if you found this information helpful please provide a positive rating using the stars at the top of this page. I will not be credited for answering your question without a positive rating. Thank you
Hi, this question remains open. If you found my information provided helpful please could you rate my response positively using the stars at the top of this page as I will not be credited for my response without a positive rating.